Showing posts with label student loans. Show all posts
Showing posts with label student loans. Show all posts

Thursday, June 16, 2016

CONYERS, COHEN & JOHNSON: GOP’S So-Called “Better Way” Is The Wrong Way For Americans

HOUSE JUDICIARY COMMITTEE DEMOCRATS RESPOND TO SPEAKER RYAN’S “TASK FORCE ON RESTORING CONSTITUTIONAL AUTHORITY” REPORT

Washington, D.C. – House Judiciary Democrats want to address the real problems facing our Nation today by: 

  • Preventing Gun Violence: Congress can longer stand idly by while our communities are ravaged by gun violence. Americans should feel safe whether attending school, their place of worship, in their movie theaters or out in their communities.

  • Combating Hate Crimes: No American should live in fear of being a target of violence because of their race, ethnicity, sexual orientation, gender identity, national origin, age, disability or sex.  

  • Strengthening Voting Rights: States across the Nation have implemented laws that disenfranchise voters and impede their ability to have their voices heard. Every American deserves equal access to the ballot box.

  • Relieving Crushing Student Loan Debt: The class of 2015 graduated with the most student loan debt in U.S. history. Overwhelming student loan debt is preventing young Americans from purchasing homes, starting families, and contributing to our economy.

  • Helping American Consumers: Companies should not be able to force Americans to forego their rights to seek legal redress in the courts.

However, House Judiciary Republicans have not held a single hearing on these issues this Congress. Instead, they would rather focus on protecting corporate interests and their own political agenda. Today, Speaker Ryan’s Task Force on Restoring Constitutional Authority issued a report as part of the so-called “Better Way” agenda.  House Judiciary Committee Ranking Member John Conyers, Jr. (D-MI), Subcommittee on the Constitution and Civil Justice Ranking Member Steve Cohen (D-TN), and Subcommittee on Regulatory Reform, Commercial and Antitrust Law Ranking Member Henry C. “Hank” Johnson, Jr. (D-GA) released the following statements in response to the report:

Dean of the U.S. House
of Representatives
John Conyers, Jr.
“For the second time in two days, House Republicans have issued a report consisting mostly of recycled and long-discredited proposals clearly intended to undermine Federal agencies’ ability to protect public health and safety and to open the door to ideologically-motivated lawsuits against the Executive Branch, among other things,” said Congressman Conyers. “Congress delegated broad authority to agencies because they have the expertise to develop highly technical regulations that sometimes require years of study which Congress lacks the time and resources to do on its own.  This is why the Supreme Court has long recognized that the Constitution allows Congress to obtain the assistance of the other branches of government, including the Executive Branch, in implementing the laws that Congress passes.”

Congressman Conyers continued, “While there are areas where Congress has failed to assert itself sufficiently -- such as the President’s exercise of war powers -- this report does little to address those concerns.  Rather, this report simply recycles the same old pro-corporate, anti-consumer proposals that House Republicans have been pushing for decades, masked as constitutional issues.”

“Today’s report on the so-called “A Better Way: The Constitution” is mostly a re-hash of meritless proposals that, among other things, invite frivolous lawsuits by Congress against the President over routine policy debates and hamstring the ability of agencies to do the critical job of ensuring the health, safety, and rights of the American people that Congress tasked them with doing,” said Congressman Cohen.  “In hearing after hearing before the Judiciary Committee, House Republicans have sought to constitutionalize what are essentially policy and political disputes.  Really, this reflects the fact that they do not have the votes to achieve their policy ends through the political process.  And that is because most Americans like the kind of protections for the environment, civil rights, consumer products, and workplace safety that House Republicans have repeatedly tried to undermine.”

“Because dismantling our government’s ability to provide for the public interest is apparently not enough, Republicans now embark on a dangerous path to rig the courts and regulatory system against the public by abolishing longstanding Supreme Court precedent that is fundamental to our legal tradition and upholding the very rights established by both the Constitution and Congress,” Congressman Johnson stated. “These so-called “solutions” appear to come straight from the Koch brothers’ wish list. Yet another example of the corporate-welfare policies that Republicans so eagerly pursue, there is little doubt that the result of this crony-capitalist agenda would be a deep betrayal of our constitutional and statutory protections, practically guaranteeing a rigged system by which corporate misconduct could seldom be held accountable.”



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Tuesday, June 14, 2016

CONYERS & JOHNSON: Republicans' Anti-Regulatory Agenda Is Not Only A "Better Way" For Big Business, Not Working Americans

Dean of the U.S. House
of Representatives
John Conyers, Jr.
Washington, D.C. – Earlier today, House Speaker Paul Ryan’s Task Force on Reducing Regulatory Burdens introduced the anti-regulatory portion of their so-called “Better Way” agenda.  House Judiciary Committee Ranking Member John Conyers, Jr. (D-MI) and Subcommittee on Regulatory Reform, Commercial and Antitrust Law Ranking Member Henry C. “Hank” Johnson, Jr. (D-GA) today released the following statements in response to this report:

“Congress needs to focus on finding real solutions to real problems facing the Nation, such as gun violence, the erosion of voting rights, and growing economic inequality. But once again, House Republican leaders reveal they have no new ideas to help create jobs and improve the lives of ordinary hardworking Americans.  Instead they rebrand old, discredited anti-regulatory proposals designed to benefit big business,” said Congressman Conyers.  “Economic studies have shown that regulations help our economy, not burden it.  More importantly, regulations ensure better working conditions, a cleaner environment, and safer and more innovative products.

Congressman Conyers continued, “Americans want the benefits that regulation provides.  House Republican leadership should stop attacking federal regulatory agencies and admit that their decades-old, anti-regulatory agenda simply prioritizes corporate profits over people.”

“This report is more evidence that Republicans would rather govern by tired and unfounded rhetoric than through sound policy,” said Congressman Johnson. “Few, if any, of these anti-government reforms are new ideas. We have held more than 30 hearings on many of these dangerous proposals; each are designed to unduly constrain agencies from protecting the public interest by keeping our water, food, and air safe. At this point, the record is etched in stone: regulatory reform is a handout to the donor class designed to insulate reckless corporations from public accountability in any form.”

On the House Judiciary Committee alone, House Republicans have held 33 anti-regulation hearings since the start of the 112th Congress, but not a single hearing this Congress on:
o   Gun violence;
o   Voting rights;
o   The impact of overwhelming student loan debt on families and the economy;
o   The mortgage foreclosure crisis, which still is hampering the economic recovery of millions of American families;
o   or how we can better help struggling American families regain their financial stability.
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Wednesday, February 24, 2016

Statement of the Honorable John Conyers, Jr., Ranking Member Subcommittee on Regulatory Reform, Commercial and Antitrust Law Hearing on the “Triple Threat to Workers and Households: Impacts of Federal Regulations on Jobs, Wages and Startups”


Dean of the U.S. House
of Representatives
John Conyers, Jr.
“Today’s hearing is the 29th anti-regulatory hearing that the Committee has held over the past 5 years.  Yet, during those same 5 years, the Committee has not conducted a single hearing on –

                     The devastating impact that overwhelming student loan debt has on families and our Nation’s economy; or
                     How to strengthen protections for employees and retirees of companies and municipalities that seek bankruptcy relief; or
                     The life-threatening public health and safety ramifications of penny-wise, but dollar-foolish budget cuts made by unelected emergency financial managers, as illustrated by the catastrophic Flint water crisis and hazardous condition of Detroit’s Public School buildings.

“These are matters that affect millions of hardworking Americans and that have real consequences, not the illusionary, so-called ‘triple threat’ referred to in the title of today’s hearing. 

“I say illusionary for several reasons.

“To begin with, there is absolutely no empirical evidence that regulations have a deleterious impact on job growth.  In fact, one could argue that a strong, regulatory environment actually promotes job growth. 

“For example, my colleagues on the other side of the aisle assert that the current Administration has issued an unprecedented number of regulations.  Assuming that is true for the sake of argument, how can they ignore these facts -

                     Unemployment has fallen by half since the 2008 Great Recession;
                     The United States is in the midst of one of the longest running streaks of private-sector job creation in history; and
                     14 million new jobs created over the past 7 years.

“And, what about the impact of regulations on wages?  The Economic Report of the President, which was just issued earlier this week, reports that wages grew faster last year than at any time since the Great Recession.

“Admittedly, wages have not increased as much as they should.  But the cause is not over-regulation. Rather, wage stagnation is largely a symptom of workplace inequality fostered by declining union membership and the resultant diminished bargaining power of lower- and middle-wage workers. Sixty years ago, 1 out of every 4 workers belonged to a union.  Now, less than 10% of Americans belong to a union.  In fact, union membership in some states is less than 3%.  

“Declining unionization, according to one study, accounts for between a fifth and a third of the increase in inequality since the 1970s.  And finally, with regard to the illusionary threat that regulations inhibit the creation of new businesses, this too is a canard.  Startup companies, by bringing new products and services to the marketplace, are vital to productivity growth in the United States. And, startups create jobs.  In 2013, startups created more than 2 million new jobs compared with established firms that accounted for over 8 million new jobs.

“Unfortunately, there are real barriers to entry for new companies.  Weak antitrust enforcement over the years has substantially reduced competition thereby allowing larger firms to squeeze new entrants.  In addition, existing firms often lobby for rules protecting them from new entrants.

“Eliminating these real barriers to entry should be our Committee’s priority, not spending yet another hearing dealing with illusionary problems.

“In closing, I want to thank the witnesses for their participation and I look forward to hearing their testimony.” 

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Thursday, June 12, 2014

Conyers Introduces New Legislation to Protect Student Loan Borrowers

As House Republican Leaders Obstruct Student Loan Relief, Rep. Conyers Joins Democratic Leaders in Fight for Student Loan Fairness

(WASHINGTON) – Today, Congressman John Conyers, Jr. (D-Mich.) introduced H.R.4835, the “Stopping Abusive Student Loan Collection Practices in Bankruptcy Act of 2014.” This legislation curtails ruthless collection tactics used by creditors against borrowers who have taken out student loans and sought bankruptcy relief. In particular, the legislation empowers a bankruptcy judge to award both the costs and attorney’s fees to borrowers in bankruptcy cases where student loan creditors engaged in abusive litigation. This legislation comes on the heels of President Obama’s issuance of an executive order earlier this week that allows nearly 5 million Americans struggling with student loan debt the ability to cap their loan payments at 10 percent of their income starting in 2015. In addition, yesterday afternoon House Democrats moved to force a vote on the House companion bill to Senator Elizabeth Warren’s (D-Mass.) “Bank on Students Emergency Loan Refinancing Act,” after the legislation was blocked in the U.S. Senate.

After H.R. 4835 was introduced, Representative Conyers (D-Mich.) issued the following statement:

U.S. Representative
John Conyers, Jr.
“With record tuition costs, student loan debt topping $1 trillion nationally, and too few employment opportunities for young Americans, it’s no surprise that our nation’s student borrowers are struggling. As a report in the New York Times revealed in January, even student loans borrowers with terminal illnesses - and who were driven into bankruptcy as a result - have been denied important consumer protections. These mounting challenges have turned into a full-blown crisis; the time is now for the federal government to step in and be a part of the solution,” said Conyers.

“Today, I introduced H.R. 4835, the ‘Stopping Abusive Student Loan Collection Practices in Bankruptcy Act of 2014,’ to ensure basic fairness for student borrowers. Unfortunately, some student loan debt collectors engage in abusive litigation tactics that exponentially drive up the cost of legal representation for a borrower. My legislation allows bankruptcy judges to award attorneys fees in cases where a court determines that a borrower’s student loan debt does not have to be repaid in total, due to an undue hardship on the individual and the creditors’ position in opposing this relief was not substantially justified. By empowering bankruptcy judges to award borrower’s attorney’s fees in cases, my legislation will help put a stop to creditors taking advantage of student loan borrowers in the courtroom.

“By ensuring basic legal and consumer protections for students, Congress can help save a generation from being mired in student loan debt. As a matter of fairness and personal opportunity, Congress must stand with our students to level the playing field.”


This legislation is supported by the National Consumer Law Center, Inc. on behalf of its low-income clients as well as the National Association of Consumer Bankruptcy Attorneys.
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Monday, June 9, 2014

Conyers Praises President Obama’s Decision to Immediately Help Struggling Student Loan Borrowers


(WASHINGTON) – Today, President Obama undertook new executive actions to help millions of student loan borrowers better manage their debt by directing the Department of Education to expand the Pay As You Earn (PAYE) program, which enables student loan borrowers to cap their loan payments at 10 percent of their monthly income. The new rules will open the PAYE program to borrowers who are currently ineligible because they have loans that originated before October 2007, allowing an estimated 5 million additional borrowers to cap their monthly student loan payments in relation to their income. After today’s announcement, Congressman John Conyers, Jr. (D-Mich.) released the following statement:

U.S. Representative
John Conyers, Jr.
“As a long-time supporter of ensuring that everyone has access to higher education and training regardless of their families’ income, I welcome President Obama’s executive actions to combat the more than $1 trillion in student loan debt. Americans now owe more on student loan debt than they do for credit card debt. The Obama Administration’s plan to cap loan payments at 10 percent of a borrowers monthly income will help make college more affordable and accessible to millions of hard-working Americans,” said Conyers.

“College graduates across the state of Michigan are straining to pay off unprecedented levels of student loan debt. Recent data from the Department of Education show that around 1.5 million borrowers in Michigan are carrying a total debt load of more than $37 million. Soaring interest rates and skyrocketing tuitions have generated massive debt that is hurting our economy and holding back a generation of Michiganders.

“President Obama has taken this action today to help struggling borrowers because he believes students can’t wait for Republicans in Congress to act on the mounting student debt crisis. However, Congress must also do its part to level the playing field for debtors overwhelmed by student loan debts, and end abusive practices by the loan collectors - for good. For these reasons, I plan to introduce legislation to address certain abusive loan collection practices in the days ahead.”


Learn more about the White House’s new action to help borrowers repay their student loan debt here.

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Friday, May 16, 2014

Conyers & Members of Congress Urge Education Secretary to Bring More Fairness to Struggling Students


Department of Education should provide clear guidance on “undue hardship” cases where students can receive student loan relief in bankruptcy

(DETROIT) – Today, Congressman John Conyers, Jr. (D-Mich.) joined with six other Members of Congress urged the Secretary of Education, Arne Duncan, to bring more fairness to struggling students by establishing clear standards of eligibility for “undue hardship” discharge of federal student loans in bankruptcy.  The members said this type of guidance would benefit the most vulnerable student loan debtors by bringing consistency to the manner in which the Department of Education’s contractors handle undue hardship claims.  Such guidance would further enable the Department of Education to focus student loan collection efforts on cases where there is a more realistic opportunity for loan recovery. Rep. Conyers signed on to today’s letter with U.S. Senators Dick Durbin (D-Ill.), Jack Reed (D-R.I.) and Elizabeth Warren (D-Mass.) alongside U.S. Representatives Elijah Cummings (D-Md.), Steve Cohen (D-Tenn.), and Hank Johnson (D-Ga.). In the letter, the Members wrote:

U.S. Representative
John Conyers, Jr.
“Americans have accumulated $1.2 trillion in student loan debt, exceeding even the level of credit card debt in our nation.  Seven in ten college seniors who graduated in 2012 had student loan debt, with an average of $29,400 per borrower.  Because federal law treats student debt as nondischargeable in bankruptcy proceedings, borrowers can be burdened with this debt for a lifetime even if circumstances make it unlikely that the borrower will ever be able to repay.

“Federal law does provide that bankruptcy discharge is available for student loans in cases of “undue hardship,” and while the courts have established a high legal standard for a debtor to show “undue hardship” there are some debtors who should be able to avail themselves of this option.  However, the path to an undue hardship discharge is often blocked by Department contractors, such as the Educational Credit Management Corporation (ECMC), which have a practice of aggressively challenging debtors’ efforts to show undue hardship.

“While we recognize the Department’s prerogative to fairly collect on student loan debts owed to it, we do not find it sensible or cost-effective for the Department or its contractors to engage in lengthy legal challenges and appeals against bankrupt student loan borrowers who have demonstrated a clear and legitimate inability to repay their loans.”

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Friday, April 27, 2012

Conyers: To Prevent Student Loan Rate Increase, Conservatives Would Jeopardize Women’s Health than End Big Oil Subsidies




(WASHINGTON) – Today, Representative John Conyers, Jr. (D-Mich.) voted against a Republican bill, H.R. 4628, that cuts funding to programs important to women and children’s health.  Representative Conyers strongly supports blocking the scheduled increase in student loan debt but favors a Democratic alternative bill, H.R. 4816, which offsets the cost by closing corporate tax loopholes for Big Oil companies.  The Republican proposal would divert funds from the Prevention and Public Health Fund (“PPH Fund”), created as part of the landmark Affordable Care Act.  The PPH Fund provides funding for critical programs, including breast and cervical cancer screenings and vaccinations for underserved children.        

U.S. Representative
John Conyers, Jr.
“I am glad the Conservative Majority has finally agreed with President Obama that Congress must take steps to prevent the scheduled doubling of student loan rates,” said Conyers. “If the economy is to continue recovering, Congress must take steps to ensure that America’s students do not graduate into the job market saddled with unnecessary extra debt.  However, I cannot support a bill that would offset the cost of doing so by slashing funding to programs critical to the health of middle and working class women and their families. 

“Only this Conservative Majority could come up with a ‘solution’ that hinges on cutting spending for women’s health rather than ending corporate tax subsidies to Big Oil companies.  I strongly support the Democratic alternative bill that blocks this unnecessary increase in student loan rates and pays for it by closing corporate tax loopholes.  The entire Nation reaps the benefits of a well-educated, healthy population and it is time that every sector of our society pay its fair share.”            
  

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Wednesday, April 4, 2012

Democratic Lawmakers Push for Student Loan Debt Forgiveness


U.S. Senators Dick Durbin, Sheldon Whitehouse and Al Franken joined with Reps. Steve Cohen, Danny Davis, George Miller and John Conyers to introduce bills that will allow consumers to clear outstanding private student loan debts when filing for bankruptcy, Durbin’s office announced.


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